Obama Economic Plan to be Revealed at 2012 DNC

[usmcstinger]

The Economic Plan is the continuation of the Keynesian Economic Theory. If you do not believe it, you need to research it.

In the four decades since, have there been any instances in which a Keynesian fiscal stimulus has actually worked? *In Canada or Sweden? *In Belgium or France? *For that matter, in Andorra, San Marino, Liechtenstein or Monte Carlo?
Has Keynesianism Ever Worked Anywhere? - Ricochet.com

After observing the economic failures occurring in Spain, Ireland, England, Italy, Greece, and even here in the U.S. with the failure to increase growth, despite an extra $800B being pumped into the economy, one pertinent question is apparent – where in the world has Keynesian economics ever worked to grow and sustain an economy for the long term, with so much evidence that proves exactly the opposite?
Where in the world is Keynesian economics working? – Ted Biondo - Rockford, IL - Rockford Register Star

1995 Nobel Prize for Economics was awarded to Robert Lucas.
No one since Milton Friedman has had so great an influence on the development of macroeconomics as Robert Lucas," said Gary Becker, University Professor in Economics and Sociology and winner of the Nobel Memorial Prize in Economic Sciences in 1992. "This Nobel is very much deserved. His work was initially met with hostility, but it came to be accepted as the view of the future."


"The effect of his work is to really change the way economists think about macroeconomics," Rosen said. "It kind of destroyed the Keynesian model. This really took a lot of the thunder out of the Keynesian way of thinking."

Robert Lucas wins Nobel Prize in Economics

Why would you institute failed policies and expect different out comes?

 

[CrusaderFrank]

Change: this time for the better

 

[CrusaderFrank]

Jon Corzine, who stole $1.2B from his customers at MF Global was the financial architect of the Failed Stimulus. I think Obama is going to ask Bernie Madoff for his plan for the economy

[ame=http://www.youtube.com/watch?v=buRO9TSlScQ]Joe Biden calls Jon Corzine for Advice Again - YouTube[/ame]

"You need $1 billion for your campaign? Guess how much I just stole from my customers at MF Global?"

 

[Freemason9]

In the four decades since, have there been any instances in which a Keynesian fiscal stimulus has actually worked? *In Canada or Sweden? *In Belgium or France? *For that matter, in Andorra, San Marino, Liechtenstein or Monte Carlo?

I don't know, how would you describe Reagan's time in office? Because he relied entirely upon debt spending (Keynesian money supply) to stimulate the flagging American economy from 1980-1988. Remember? He like quadrupled the debt.

 

[expat_panama]

...Reagan's time in office? Because he relied entirely upon debt spending...

Opinions can be fun but reality is what it is. Reagan's tax cuts increased revenue by $400B annually but Tip O'neil's spending soared by $500B per year:

We all know that Reagan could have 'relied' on anything he wanted, but congress controlled taxes and spending. Reagan actually submitted a balanced budget once but Tip O'neil laughed at and called "dead on arrival".

 

[CrusaderFrank]

In the four decades since, have there been any instances in which a Keynesian fiscal stimulus has actually worked? *In Canada or Sweden? *In Belgium or France? *For that matter, in Andorra, San Marino, Liechtenstein or Monte Carlo?

I don't know, how would you describe Reagan's time in office? Because he relied entirely upon debt spending (Keynesian money supply) to stimulate the flagging American economy from 1980-1988. Remember? He like quadrupled the debt.

What a complete fucking lying asshole you are

 

[usmcstinger]

In the four decades since, have there been any instances in which a Keynesian fiscal stimulus has actually worked? *In Canada or Sweden? *In Belgium or France? *For that matter, in Andorra, San Marino, Liechtenstein or Monte Carlo?

I don't know, how would you describe Reagan's time in office? Because he relied entirely upon debt spending (Keynesian money supply) to stimulate the flagging American economy from 1980-1988. Remember? He like quadrupled the debt.

Ronald Reagan's Debt Policy Reaganomics (*/reɪɡəˈnɒmɪks/; a portmanteau of Reagan and economics attributed to Paul Harvey[1]) refers to the economic policies promoted by the U.S. President Ronald Reagan during the 1980s. These policies are commonly associated with supply-side economics, or pejoratively as trickle-down economics or voodoo economics.
The four pillars of Reagan's economic policy were to reduce the growth of government spending, reduce income tax and capital gains tax, reduce government regulation of economy, and control money supply to reduce inflation.[2]
Reaganomics - Wikipedia, the free encyclopedia



Reagan's Economic Proposals
Throughout the 1980 presidential campaign, Republican candidate Ronald Reagan attacked the incumbent, Jimmy Carter, for the performance of the economy. He railed against the $40 billion deficit the Carter administration was running and promised to balance the budget if elected. Reagan blamed government red tape and overregulation for stifling economic growth and promised deregulation. His views were a loose amalgam of some features of economic libertarianism, supply-side economics, and tax theory pro-pounded by William Laffer. Supply-siders considered the conventional prescription of stimulating the economy by increasing government spending to be potentially wasteful. Instead, they said, taxes should be cut and incentives created to encourage savings and investment. To this view Reagan added an adaptation of Laffer's theory that economic growth resulting from such a tax policy would generate new revenues, which would offset those lost through
tax reduction.
http://www.encyclopedia.com/topic/Reaganomics.aspx
Class dismissed!
You lack an understanding of both Keynesian and Reaganomics. However, you have proven that you lack a basic understanding of economics.

You made a stupid statement that you can not defend.

 

[Freemason9]

You lack an understanding of both Keynesian and Reaganomics. However, you have proven that you lack a basic understanding of economics.

You made a stupid statement that you can not defend.

What? What was incorrect? Reagan's years as president were marked by government spending that greatly exceeded revenues, no? If not, please enlighten me. Because it sure looks to me like Reagan depended quite strongly upon "stimulation."

 

[Freemason9]

In the four decades since, have there been any instances in which a Keynesian fiscal stimulus has actually worked? *In Canada or Sweden? *In Belgium or France? *For that matter, in Andorra, San Marino, Liechtenstein or Monte Carlo?

I don't know, how would you describe Reagan's time in office? Because he relied entirely upon debt spending (Keynesian money supply) to stimulate the flagging American economy from 1980-1988. Remember? He like quadrupled the debt.

What a complete fucking lying asshole you are

Please tell me what I lied about. Instead of throwing a tantrum, that is.

 

[Freemason9]

...Reagan's time in office? Because he relied entirely upon debt spending...

Opinions can be fun but reality is what it is. Reagan's tax cuts increased revenue by $400B annually but Tip O'neil's spending soared by $500B per year:

We all know that Reagan could have 'relied' on anything he wanted, but congress controlled taxes and spending. Reagan actually submitted a balanced budget once but Tip O'neil laughed at and called "dead on arrival".

Congress enacted both "tax cuts" and "spending." You erroneously ascribed the tax cuts to Reagan, but Congress did that. BTW, those tax cuts were reversed and offset by other tax increases later in Reagan's term because they were so sucky.

Also, it is a popular myth that these tax cuts somehow magically increased federal revenue--that's not the case, though. Tax revenues increased because the cyclical recessionary business cycle ended. That happens every time a recession ends.

 

[Rshermr]

The Economic Plan is the continuation of the Keynesian Economic Theory. If you do not believe it, you need to research it.

In the four decades since, have there been any instances in which a Keynesian fiscal stimulus has actually worked? *In Canada or Sweden? *In Belgium or France? *For that matter, in Andorra, San Marino, Liechtenstein or Monte Carlo?
Has Keynesianism Ever Worked Anywhere? - Ricochet.com

After observing the economic failures occurring in Spain, Ireland, England, Italy, Greece, and even here in the U.S. with the failure to increase growth, despite an extra $800B being pumped into the economy, one pertinent question is apparent – where in the world has Keynesian economics ever worked to grow and sustain an economy for the long term, with so much evidence that proves exactly the opposite?
Where in the world is Keynesian economics working? – Ted Biondo - Rockford, IL - Rockford Register Star

1995 Nobel Prize for Economics was awarded to Robert Lucas.
No one since Milton Friedman has had so great an influence on the development of macroeconomics as Robert Lucas," said Gary Becker, University Professor in Economics and Sociology and winner of the Nobel Memorial Prize in Economic Sciences in 1992. "This Nobel is very much deserved. His work was initially met with hostility, but it came to be accepted as the view of the future."


"The effect of his work is to really change the way economists think about macroeconomics," Rosen said. "It kind of destroyed the Keynesian model. This really took a lot of the thunder out of the Keynesian way of thinking."

Robert Lucas wins Nobel Prize in Economics

Why would you institute failed policies and expect different out comes?

So, lots of effort going in to trying to prove that we must rely on supply side econ, which the repubs are suggesting.
And no, the dems are not rubber stamping any type of keynsian econ. And there are several.
They are suggesting that one part of Keynsian econ works. That would be increasing taxes and stimulus spending. And yes, I can give you a recent example. It was called the Clinton admin. Remember, raised taxes, reduced unemployment, and provided the first and last balanced budget in the past 40 years.
Then there was Roosevelt, after Hoover sent unemployment to over 25%. Increased taxes and watched unemployment decrease, month after month, year after year.
Then there was reagan. Decreased taxes based on the supply side (reaganomics, top down, etc) economics. Watched the unemployment rate up to 10.8% in a little over a year, caused the deficit to rise like a rocket. Then tried a little Keynsian economics, raised taxes 11 times, and borrowed more than all the presidents up until himself, and utilized deficit spending to get out of the problem supply side had caused him. You may notice, he did not use supply side principles to get out of the mess he found himself in.

Any other questions>>>

 

[Rshermr]

In the four decades since, have there been any instances in which a Keynesian fiscal stimulus has actually worked? *In Canada or Sweden? *In Belgium or France? *For that matter, in Andorra, San Marino, Liechtenstein or Monte Carlo?

I don't know, how would you describe Reagan's time in office? Because he relied entirely upon debt spending (Keynesian money supply) to stimulate the flagging American economy from 1980-1988. Remember? He like quadrupled the debt.

What a complete fucking lying asshole you are

Ah. Another profound post by this con idiot. He has no ability to argue points, just goes to right wing hate sights and posts dogma. That is the extent of his game.

 

[Moonglow]

The Economic Plan is the continuation of the Keynesian Economic Theory. If you do not believe it, you need to research it.

In the four decades since, have there been any instances in which a Keynesian fiscal stimulus has actually worked? *In Canada or Sweden? *In Belgium or France? *For that matter, in Andorra, San Marino, Liechtenstein or Monte Carlo?
Has Keynesianism Ever Worked Anywhere? - Ricochet.com

After observing the economic failures occurring in Spain, Ireland, England, Italy, Greece, and even here in the U.S. with the failure to increase growth, despite an extra $800B being pumped into the economy, one pertinent question is apparent – where in the world has Keynesian economics ever worked to grow and sustain an economy for the long term, with so much evidence that proves exactly the opposite?
Where in the world is Keynesian economics working? – Ted Biondo - Rockford, IL - Rockford Register Star

1995 Nobel Prize for Economics was awarded to Robert Lucas.
No one since Milton Friedman has had so great an influence on the development of macroeconomics as Robert Lucas," said Gary Becker, University Professor in Economics and Sociology and winner of the Nobel Memorial Prize in Economic Sciences in 1992. "This Nobel is very much deserved. His work was initially met with hostility, but it came to be accepted as the view of the future."


"The effect of his work is to really change the way economists think about macroeconomics," Rosen said. "It kind of destroyed the Keynesian model. This really took a lot of the thunder out of the Keynesian way of thinking."

Robert Lucas wins Nobel Prize in Economics

Why would you institute failed policies and expect different out comes?

China, Australia, just to name two.

 

[Moonglow]

The Economic Plan is the continuation of the Keynesian Economic Theory. If you do not believe it, you need to research it.

In the four decades since, have there been any instances in which a Keynesian fiscal stimulus has actually worked? *In Canada or Sweden? *In Belgium or France? *For that matter, in Andorra, San Marino, Liechtenstein or Monte Carlo?
Has Keynesianism Ever Worked Anywhere? - Ricochet.com

After observing the economic failures occurring in Spain, Ireland, England, Italy, Greece, and even here in the U.S. with the failure to increase growth, despite an extra $800B being pumped into the economy, one pertinent question is apparent – where in the world has Keynesian economics ever worked to grow and sustain an economy for the long term, with so much evidence that proves exactly the opposite?
Where in the world is Keynesian economics working? – Ted Biondo - Rockford, IL - Rockford Register Star

1995 Nobel Prize for Economics was awarded to Robert Lucas.
No one since Milton Friedman has had so great an influence on the development of macroeconomics as Robert Lucas," said Gary Becker, University Professor in Economics and Sociology and winner of the Nobel Memorial Prize in Economic Sciences in 1992. "This Nobel is very much deserved. His work was initially met with hostility, but it came to be accepted as the view of the future."


"The effect of his work is to really change the way economists think about macroeconomics," Rosen said. "It kind of destroyed the Keynesian model. This really took a lot of the thunder out of the Keynesian way of thinking."

Robert Lucas wins Nobel Prize in Economics

Why would you institute failed policies and expect different out comes?

So, lots of effort going in to trying to prove that we must rely on supply side econ, which the repubs are suggesting.
And no, the dems are not rubber stamping any type of keynsian econ. And there are several.
They are suggesting that one part of Keynsian econ works. That would be increasing taxes and stimulus spending. And yes, I can give you a recent example. It was called the Clinton admin. Remember, raised taxes, reduced unemployment, and provided the first and last balanced budget in the past 40 years.
Then there was Roosevelt, after Hoover sent unemployment to over 25%. Increased taxes and watched unemployment decrease, month after month, year after year.
Then there was reagan. Decreased taxes based on the supply side (reaganomics, top down, etc) economics. Watched the unemployment rate up to 10.8% in a little over a year, caused the deficit to rise like a rocket. Then tried a little Keynsian economics, raised taxes 11 times, and borrowed more than all the presidents up until himself, and utilized deficit spending to get out of the problem supply side had caused him. You may notice, he did not use supply side principles to get out of the mess he found himself in.

Any other questions>>>

Just an addendum:
U.S. Federal Deficits, Presidents, and Congress

BushII is number uno in biggest deficit by president.

 

[Moonglow]

Why, I can hear the crickets.

 

[Politico]

Wow another liberal Reagan diversion.

 

[expat_panama]

...Reagan's time in office? Because he relied entirely upon debt spending...

...congress controlled taxes and spending. Reagan actually submitted a balanced budget once but Tip O'neil laughed...

...You erroneously ascribed the tax cuts to Reagan, but Congress did that...

What, you're talking to yourself admitting you were wrong to say "he relied entirely upon debt spending"?

...those tax cuts were reversed... and offset by other tax increases later in Reagan's term...

No, top rate went down and did not go back up.

...they were so sucky...

Hey, I liked the cuts. If you honestly didn't then you're always free to give your money to the US Treasury --in fact, this current year so far alone $7,307,110.33 has been donated by honest people willing to act on their beliefs. Prove to us all that you are and that you do.

...Tax revenues increased because the cyclical recessionary business cycle ended. That happens every time a recession ends.

No it doesn't. Revenue soared to all time highs when the '82 recession ended with tax cuts---

---and has never recovered with the current tax hikes:

 

[usmcstinger]

The Economic Plan is the continuation of the Keynesian Economic Theory. If you do not believe it, you need to research it.

In the four decades since, have there been any instances in which a Keynesian fiscal stimulus has actually worked? *In Canada or Sweden? *In Belgium or France? *For that matter, in Andorra, San Marino, Liechtenstein or Monte Carlo?
Has Keynesianism Ever Worked Anywhere? - Ricochet.com

After observing the economic failures occurring in Spain, Ireland, England, Italy, Greece, and even here in the U.S. with the failure to increase growth, despite an extra $800B being pumped into the economy, one pertinent question is apparent – where in the world has Keynesian economics ever worked to grow and sustain an economy for the long term, with so much evidence that proves exactly the opposite?
Where in the world is Keynesian economics working? – Ted Biondo - Rockford, IL - Rockford Register Star

1995 Nobel Prize for Economics was awarded to Robert Lucas.
No one since Milton Friedman has had so great an influence on the development of macroeconomics as Robert Lucas," said Gary Becker, University Professor in Economics and Sociology and winner of the Nobel Memorial Prize in Economic Sciences in 1992. "This Nobel is very much deserved. His work was initially met with hostility, but it came to be accepted as the view of the future."


"The effect of his work is to really change the way economists think about macroeconomics," Rosen said. "It kind of destroyed the Keynesian model. This really took a lot of the thunder out of the Keynesian way of thinking."

Robert Lucas wins Nobel Prize in Economics

Why would you institute failed policies and expect different out comes?

China, Australia, just to name two.

Recognising this, former British Labour prime minister James Callaghan declared in 1977: "We used to think we could spend our way out of recession. I tell you, in all candour, that that option no longer exists, and that if it ever did exist, it only worked by injecting bigger doses of inflation into the economy followed by higher levels of unemployment as the next step. That is the history of the past 20 years.
"http://www.theaustralian.com.au/news/opinion/we-keep-repeating-keyness-mistakes/story-e6frg6zo-1225766154415

China's Government is Communist. They still control every aspect of their economy.

China’s Flirtation with Keynesian Economics

Apart from the dubious record of deficit spending, we might inquire whether China’s economic illness has been properly diagnosed. While there are warning signs of a dangerous deflationary spiral, the proposed remedies are off base. China’s problem with deflation cannot be resolved through Keynesian “reflationary” policies, as they only act as countercyclical measures at best.
T. Boone Pickens is Right About Oil Imports? It Just Ain’t So! | The Freeman | Ideas On Liberty.

 

[EdwardBaiamonte]

we might inquire whether China’s economic illness has been properly diagnosed.

I don't see an illness at all given 7-10% growth for 30 years running!!

 

[Rshermr]

...congress controlled taxes and spending. Reagan actually submitted a balanced budget once but Tip O'neil laughed...

...You erroneously ascribed the tax cuts to Reagan, but Congress did that...

What, you're talking to yourself admitting you were wrong to say "he relied entirely upon debt spending"?No, top rate went down and did not go back up.

...they were so sucky...

Hey, I liked the cuts. If you honestly didn't then you're always free to give your money to the US Treasury --in fact, this current year so far alone $7,307,110.33 has been donated by honest people willing to act on their beliefs. Prove to us all that you are and that you do.

...Tax revenues increased because the cyclical recessionary business cycle ended. That happens every time a recession ends.

No it doesn't. Revenue soared to all time highs when the '82 recession ended with tax cuts---

---and has never recovered with the current tax hikes:

Kinda selective with your stats, expat. Here is what you conveniently forgot.
First, unemployment went from 7.2% at Reagan's inauguration to 10.8% 15 months later. The rate increased every month, month after month.
The deficit increased from about $99B at Reagan's inauguration to over $236B by the Sept of 83.
U.S. Federal Deficits, Presidents, and Congress


So, Big, Big tax cuts in early 81 to a disaster that was obvious in early 82. Then, Reagan increased taxes 11 times and borrowed more than all the previous presidents combined. Tripled the national debt. And used the revenues from these two activities for stimulus spending. So, the question is, since the economy was bad by 82 with unemployment higher than at any time since the great depression, why did he not cut taxes again if it was so successful??? He used stimulus spending to correct his problems caused by decreasing taxes, not tax decreases.